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Parson - Chp 2 Exploring the World of Buisness

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Question
Answer
show A country where people are free to produce the goods and services they chose.  
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show A buisness that earns more money than they spend.  
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show A business that spends more money than they earn.  
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show transform ideas for products or services into real-world business.  
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show Money supplied by investors, banks, or owners, of a business.  
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show A company that provides a service for a fee.  
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show a company that buys finished products and resells them to individuals or other businesses  
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show a company that buys raw materials, such as wood or iron ore, and transforms them into finished products through the use of labor and capital.  
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show a business owned by one person  
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Partnership   show
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show a business organization that is recognized by law to have a life of its own.  
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Charter   show
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Accounting System   show
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show Accounting information which is processed by hand.  
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Computerized Accounting System   show
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show Accounting principles used by all accountants  
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Financial Reports   show
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show Reporting information to external users  
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show Reporting information to internal users.  
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Business Entity   show
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Accounting Period   show
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Going Concern   show
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Created by: yparson
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